The Nigeria Education Loan Fund said on Wednesday that its Student Loan Application System is now completely digital in an effort to expedite and simplify the student loan processing process for both applicants and schools.
“With this upgrade, all accredited institutions are now required to request access to SLAS to verify and upload student data related to loan applications. This is a critical step that ensures the timely processing and disbursement of approved student loans,” NELFUND said in a statement by its Director of Corporate Communications, Oseyemi Oluwatuyi.
The Fund also stated that institutions that are yet to implement the system are encouraged to submit an access request to registration@nelf.gov.ng without delay. Once access is granted, institutions will be able to monitor the status of each application, verify the data submitted, and view a real-time dashboard of their students’ loan applications.
“We urge all institutions to take immediate action in the interest of their students, as verification and data upload by the institutions are mandatory steps before final approval and disbursement can be completed,” the statement said.
President Bola Tinubu’s main initiative in the education sector is the establishment of the student loan program.
Barely a month after his inauguration as president, Tinubu signed the Access to Higher Education Act, which creates a legal framework for granting loans to indigent or low-income Nigerians to facilitate the payment of their fees in Nigerian tertiary institutions.
The law, re-enacted, created the Nigerian Education Loan Fund.
